AbstractHeart rate variability is a promising physiological measurement that accesses psychophysiological variations in response to a marketing stimulus. While its application spans diverse fields, there is a limited understanding of the usability and interpretation of heart rate variability in marketing research. Therefore, this hybrid literature review provides an overview of the emerging use of heart rate variability in marketing research, along with essential methodological considerations. In this context, we blend marketing mix framework with stimulus‐organism‐response theory, segregating the use of heart rate variability in various marketing research contexts. We follow the preferred reporting items for systematic reviews and meta‐analyses (PRISMA) framework to reflect on 33 records obtained from six databases. Our findings suggest that 42% of studies used heart rate variability to investigate promotion‐related topics. Overall, heart rate variability is mostly used in combination with Galvanic skin response (48%). Further, 39% of studies used non‐portable systems for data collection. Last, using the theory characteristics methodology (TCM) framework, we identified six research avenues: (1) affective, cognitive, and sensorial constructs; (2) personality, thinking style, and demographics; (3) product experience; (4) advertising and branding; (5) correlation with immersive technologies; and (6) triangulation with other neurophysiological tools.